HONG KONG – Beijing Stonewise Technology Co. Ltd., a med-tech firm that uses artificial intelligence (AI) to aid in the discovery of small molecule drugs, closed series B and B+ financing rounds that added $100 million to its pocket. The company intends to use the proceeds to upgrade its AI-enabled drug discovery platform.
DUBLIN – In keeping with the record-breaking year for biotech fundraising across the globe, the Swiss biotech sector also scaled new heights in 2020, with aggregate investment of CHF3.4 billion (US$3.7 billion), according to the newly published Swiss Biotech Report 2021. It represents almost a threefold increase on the CHF1.2 billion total it logged in 2019.
Renovia Inc. closed a $17 million C-1 equity funding round led by new investor Parian Global Management. Perceptive Life Sciences, Longwood Fund, Ascension Ventures and OSF Ventures added to their existing investments in the company, which develops prescription digital therapeutics for female pelvic floor disorders.
The race to tame COVID-19 has morphed from a sprint to a long game as companies continue their development to handle a pandemic that is becoming endemic to the planet. That’s the case with Adagio Therapeutics Inc. as it chases clinical studies and an emergency use authorization (EUA) for its monoclonal antibody, ADG-20, to treat and prevent COVID-19.
LONDON – Adaptate Biotherapeutics Ltd. has raised $18 million in the second close of its series A, bringing the total for the round to $34 million and providing the means to accelerate development of a portfolio of antibodies targeting tissue-resident gamma delta T cells.